Tuesday, April 17, 2012

President
Aquino confirmed yesterday that the goal of his administration is to
sell off all the remaining power plants in the country, including
hydroelectric plants, the sale of which were waived under the Electric
Power Industry Reform Act (Epira) but are highly-prized by investors due
to the cheap cost to operate these.

Aboitiz Power Corp. of the
Aboitizes, whose family members are said to be close business associates
of Aquino, is currently engaged in a massive build-up of hydroelectric
power plants in Mindanao.

Aquino said the government is
considering the possible privatization of the existing power plants in
the country to address the energy situation in Mindanao as he encouraged
more private investments in the energy sector to provide electricity
for the people at a lesser cost..... MORE